The Madison Square Garden Company, owners of both the Knicks and Rangers, as well as the building itself, announced they would be raising ticket prices for both teams next season.

The Knicks will raise ticket prices by an average of 4.9 percent, while Rangers tickets will go up by an average of 9.5 percent. MSG said only that the prices "are primarily focused on the upper bowl seats." Those seats cost as little as $10 for Knicks games, while the entire upper deck costs $39 for Rangers games.

Both teams are garnering plenty of attention this season. Jeremy Lin has set off pandemonium among Knicks fans, while the Rangers have the best record in the Eastern Conference.

MSG said the increase in prices was done in conjunction with the re-modeling of the arena. Phase I was completed prior to the Rangers' 2011-12 season, while Phase II will get underway next offseason. The second phase will expand the upper level of the stadium.